AgDay TV Markets Now: Chip Nellinger, Blue Reef Agri-Marketing, explains what triggered the commodity wide selloff Wednesday, plus what impact with the Fed action have on commodity markets?
AgDay TV Markets Now: Chip Nellinger Explains the Commodity Wide Selloff and What the Fed Action Means for Ag
AgDay TV Markets Now: Chip Nellinger, Blue Reef Agri-Marketing, explains what triggered the commodity wide selloff Wednesday, plus what impact with the Fed action have on commodity markets?
December 13, 2023 05:45 PM
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Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
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